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Long journey to EITI country compliance now begins – Ramnarine

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While Guyana’s achievement of Extractive Industries Transparency Initiative (EITI) candidacy is an occasion for celebration, it is also important to recognize that the long journey to country compliance has just started. This is the view of Trinidad and Tobago’s former Minister...
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Indonesia’s oil and gas prospects running dry

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Nearly half a century after it was founded, Indonesia’s state-owned petroleum company Pertamina will soon face its biggest ever challenge when it takes sole operational control of the Mahakham, Indonesia’s biggest producing natural gas block situated off the east coast of...
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Spain arrests four former Venezuelan officials for U.S. probe

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(Reuters) - Spanish authorities arrested a former Venezuelan deputy minister and three former executives at Venezuelan state companies for alleged links to money laundering and international corruption, Spain’s Civil Guard said on Friday. The operation was carried out with the...
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Grenada gunning for commercial oil & gas

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Global Petroleum Group (GPG) has conducted a search for oil and gas offshore the Caribbean island of Grenada, raising hopes among the population of just over 107,000, that confirmation of a big discovery could be imminent. The New Today reports...
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Exxon to acquire interest in Brazil’s Carcara oil field from Statoil

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ExxonMobil announced Friday that it has completed an agreement to purchase half of Statoil’s interest in the BM-S-8 block offshore Brazil, which contains part of the pre-salt Carcara oil field. The Carcara field contains an estimated recoverable resource of 2...
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CNOOC’s Q3 revenues up 16.9 %

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CNOOC announced on October 25 that for the third quarter of 2017 unaudited oil and gas sales revenue for the company reached approximately RMB 35.94 billion, an increase of 16.9 percent over last year. The company reports that this...
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OPEC Secretary General optimistic of oil’s outlook

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OPEC Secretary General Mohammad Sanusi Barkindo, has signaled optimism that the international oil market is rebalancing itself at an accelerated pace and that there is finally light at the end of the dark tunnel for the first time in...
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ExxonMobil earnings rise 50% to $4B on solid business performance

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Exxon Mobil Corporation today announced its estimated third quarter 2017 earnings of $4 billion, or $0.93 per diluted share, compared with $2.7 billion a year earlier as commodity prices improved and performance in the upstream and downstream strengthened. In a...
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CNOOC Nexen and Guyana discuss collaboration, future plans

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The relationship between the Government of Guyana and China National Offshore Oil Company (CNOOC) Nexen advanced further on Wednesday when a meeting was held between Raphael Trotman, Guyana’s Minister of Natural Resources and representatives of the company in Guyana. CNOOC...
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Uncapping Guyana’s agro potential key to averting Dutch Disease – GMSA President

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Ensuring steps are taken to boost the competitiveness of key sectors outside of the oil and gas industry, such as agriculture, will play a key role if Guyana is to lessen the impact of, or avert altogether, the dreaded...
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Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola,...

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